By Oliver Gray
Investing.com - The ASX 200 gained 38.80 points or 0.53% to 7,413.70 on Wednesday, closing at 5-week highs as market participants cheered better than expected earnings from major companies.
In coronavirus news, Federal Health Minister Greg Hunt announced today that the country has hit its 70% double vaccination milestone for eligible adults, as Victoria has recorded 1,841 new cases. New South Wales recorded 283 new cases as Premier Dominic Perrottet launched an A$500 million initiative to boost state's tourism sector, while the ACT added 24 cases.
Among stocks, mining giant BHP (ASX:BHP) closed 0.76% higher after the company offered C75 cents per share for Canadian nickel miner Noront Resources Ltd . (TSXV:NOT). Meantime, energy stocks dragged on the market, with Woodside Petroleum Ltd (ASX:WPL), Whitehaven Coal Ltd (ASX:WHC), and Beach Energy (ASX:BPT) declining 1.8%, 7.55% and 3.01% respectively. Among other companies, OZ Minerals Ltd (ASX:OZL) closed 0.15% lower, Kogan.com Ltd (ASX:KGN) surged 6.95%, while A2 Milk Company Ltd (ASX:A2M) surged 5.02%.
Meantime, the Australian Dollar gained 0.00231 points or 0.31% to fresh 3-month highs of 0.74939.
On the bond markets, Australia 10-Year yields surged to fresh 7-month highs of 1.802% while United States 10-Year rates were at 5-month highs of 1.651%.
In New Zealand, the NZX 50 added 0.37% to 13114.